HINES GLOBAL INCOME TRUST, INC. 8-K

What Happened
Hines Global Income Trust filed an 8-K (Apr 16, 2026) announcing its transaction price / NAV per share of $9.80 as of March 31, 2026, which will be used for April 2026 distribution reinvestments and for share redemptions (subject to program rules). The company also declared April 2026 monthly distributions and disclosed valuation oversight and key portfolio metrics reviewed by independent advisor Altus Group U.S. Inc.

Key Details

• NAV and balance sheet (as of Mar 31, 2026): NAV per share $9.80; consolidated NAV ≈ $3.024 billion; real estate investments ≈ $6.277 billion; debt and other liabilities ≈ $3.712 billion; shares outstanding ≈ 308.4 million. NAV per share declined slightly from $9.82 on Feb 28 to $9.80 on Mar 31.
• Transaction price use: Distributions reinvested and redemptions executed at the transaction price equal to the $9.80 NAV per share as of Mar 31, 2026; shares outstanding less than one year are redeemed at 95% of that price (unless waived).
• April 2026 distributions: gross $0.052 per share for all classes; net amounts after distribution/servicing fees — Class T $0.044, Class S $0.045, Class D $0.050, Class I/AX/JX $0.052. Record date: last business day of April 2026; payable first business day of May 2026 (cash or reinvested per plan).
• Portfolio and valuation: 54 properties (approx. 24.7M sq. ft.), 95% leased, portfolio ~31% leveraged. Valuations were reviewed by Altus and the company’s valuation committee; weighted-average exit cap rates ~5.83% and discount/IRR ~7.27% (by property type). A 0.25% change in exit cap or discount rate would move property values by roughly 1.6%–3.3% depending on asset type.
• Balance sheet note: Includes a $49.4 million liability for distribution/stockholder servicing fees payable to the Dealer Manager; the NAV per share does not include potential fees that could become payable after March 31, 2026.

Why It Matters
This filing sets the official transaction price (NAV) used for dividend reinvestment and redemptions, which directly affects the price shareholders will receive or pay when reinvesting or redeeming. The NAV change, portfolio leasing and leverage metrics, and the independent review by Altus give investors current visibility into asset valuations and sensitivity to cap rates and discount rates. The disclosed $49.4M potential fees and the NAV exclusion of post‑March 31 fee liabilities are important for shareholders to consider when assessing potential dilution to NAV or future cash needs for redemptions.